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capitec bank holdings ltd (CPI) Related Businessweek News

capitec bank holdings ltd (CPI) Details

Capitec Bank Holdings Limited, through its subsidiary, Capitec Bank Limited, provides various retail banking products and services for individuals in South Africa. The company offers various deposits products comprising savings accounts; and mortgages, secured and unsecured credit, other credit facilities, short term, and developmental credit loan products. It also provides transaction, money management, point-of-sale, salary transfers, workplace banking, Internet banking, and mobile banking services, as well as ATMs. In addition, the company is involved in property holding activities. It operates 668 branches and 941 owned ATMs, as well as 2,477 ATMs in partnership. The company was incorporated in 1999 and is based in Stellenbosch, South Africa.

capitec bank holdings ltd (CPI) Key Developments

At the AGM held on April 22, 2015, Capitec Bank Holdings Ltd. declared dividend of THB 0.044 per share to the shareholders register on 11 May 2015 and payable on or before 19 May 2015.
The company also approved the increase of the registered capital of the company from the existing amount of THB 5,960,980,722- to THB 7,900,000,000; namely, to increase the registered capital by another THB 1,939,019,278 by issuing 1,939,019,278 new ordinary shares, with the par value of THB 1 per share, and the amendment to Clause 4 of the memorandum of association of the company to be in line with the increase of the registered capital.

Capitec Bank Holdings Ltd. announced that Mr. Pieter van der Merwe, an independent non-executive director of Capitec and Capitec Bank Limited, the wholly owned banking subsidiary of Capitec has resigned from the boards of the companies with effect from 20 March 2015. The company announced that Mr. Jean Pierre Verster has been appointed to the boards of the companies effective 23 March 2015. He has also been appointed as chairman of the audit committee.

Capitec Bank Holdings Limited reported audited consolidated earnings results for the year ended February 28, 2015. For the year, the company reported net interest income of ZAR 8,357 million against ZAR 7,301 million a year ago. Net fee income was ZAR 3,227 million against ZAR 2,768 million a year ago. Operating profit before tax was ZAR 3,559 million against ZAR 2,832 million a year ago. Profit for the year was ZAR 2,564 million against ZAR 2,037 million a year ago. Earnings per diluted share were 2,206 cents against 1,740 cents a year ago. Headline earnings were ZAR 2,547 million against ZAR 2,017 million a year ago. Cash flow from operating activities was ZAR 6,676 million against ZAR 6,509 million a year ago. Purchase of property and equipment was ZAR 288 million against ZAR 407 million a year ago. Purchase of intangible assets was ZAR 125 million against ZAR 141 million a year ago. Return on ordinary shareholders equity was 25% against 23% a year ago. Diluted headline earnings per share were 2,206 cents against 1,740 a year ago.

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